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Initially you may only be making a tiny amount of money passively, and you may even want to re-invest that money so that it compounds and grows faster. But with a few time, its potential to make enough passive income that you could quit your job or retire .

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Passive income can be a small divisive topic. In general, passive income is any money that you earn without putting in much work. The money will flow in without too much being demanded of you. In some cases it could be long-term recurring income, and in other cases it could be short lived or inconsistent.

In some circumstances youll need to put in some effort up front, but then it wont need as much effort in the future when youre making the money.

What qualifies as passive income is up for discussion. Most lists which youll find online will include things such as blogging, writing e-books, or creating your own course. Im not including those thoughts in this informative article because, in my opinion, they all require too much effort to be considered as passive.

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Blogging will constantly need on-going work, either by yourself or from other people which youre paying.  Selling ebooks or classes will require on-going customer service, plus youll need a consistent traffic source in order to continue to make sales. It's possible and there are individuals who've been in a position to do it passively, but they make up a small percentage of people who really set out to get it done.

Ive been blogging fulltime for 10 years and Ive sold ebooks and classes in the past. Theyre great ways to earn money, I simply dont consider them to be passive, in most cases. .

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Just about any business can be a source of passive income if youre paying others to run the business. That is true with both online and traditional businesses. That opens up even more possibilities than what will be recorded here.

Now lets take a look at some of the best ways to produce passive income. A number of them are investments which will require some money to begin with. Other folks wont need any money to get started. If you dont have the money to invest now, try starting with the methods that dont need any money, and then use that money you make to invest. .

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Your first financial priority should be to build up an emergency fund that will cover all of your living expenses for a few months. But dont put this money is a checking or savings account at a local bank that pays you a horrible interest rate. You can open a high yield savings account or money market account with an online bank which will earn a much greater return for you.

My spouse and I keep our emergency fund in a money market account with CIT Bank. At the moment (October 2018) CIT money market accounts are earning 1.85percent APY and CIT savings accounts are earning 1.55% APY. Thats 22x the national average! Opening an account with CIT is fast and simple, and can be done online. .

Some companies consistently pay dividends for their shareholders. As a trader, you can re-invest the dividends to purchase more shares of this stock, or take the dividends in money. Reinvesting will let you own more stocks, which contributes to greater dividends in the future (ideally).

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The companies that consistently pay dividends tend to be large companies with a long history of success. As a result of this, these investments tend to be considered less risky than the stock exchange in general.

Dividend stocks can be a terrific investment whether or Go Here not you want to reinvest all of the dividends on hold on to the stock for quite a long time, or use the income generated throughout the dividends.

For far more detail on the subject read Investing in Dividend Stocks at Investopedia. For a list of these stocks, see this collection out of go Dividend.com and this collection from DividendValueBuilder.com.

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Peer-to-peer lending (or P2P) is becoming extremely popular in recent years. Creditors and lenders can be matched up via a website or market. Instead of going to a bank, the debtor receives a loan from an investor.

In some situations the borrower might not be able to qualify for a loan through a traditional bank. And in many circumstances the debtor gets a much better interest rate than they might receive from a bank. As an investor, you can earn a great return too.

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